{"id":2237,"date":"2025-10-05T09:16:47","date_gmt":"2025-10-05T09:16:47","guid":{"rendered":"https:\/\/www.worldpumpnews.com\/?p=2237"},"modified":"2025-10-05T09:16:47","modified_gmt":"2025-10-05T09:16:47","slug":"shell-says-trumps-attacks-on-wind-projects-harm-investment-in-the-us","status":"publish","type":"post","link":"https:\/\/www.worldpumpnews.com\/?p=2237","title":{"rendered":"Shell says Trump\u2019s attacks on wind projects harm investment in the US"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=7e3a2879-d7d9-40a3-8ea8-ae89a9e29121&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Shell\u2019s top executive in the US has said the Trump administration\u2019s decision to halt fully permitted offshore wind energy projects is \u201cvery damaging\u201d to investment and called for more predictable regulation.<\/p>\n<p>Colette Hirstius, president of Shell USA, told the Financial Times that energy projects with proper permits should be allowed to proceed, warning the political pendulum in the US could eventually swing back against the oil and gas sector.<\/p>\n<p>\u201cI think uncertainty in the regulatory environment is very damaging. However far the pendulum swings one way, its likely that its going to swing just as far the other way,\u201d she said when asked about the administration\u2019s stop-work orders on offshore wind farms. \u00a0<\/p>\n<p>\u201cI certainly would like to see those projects that have been permitted in the past continue to be developed. Similarly, if you think of the business I run offshore [Gulf of Mexico], that type of permitting uncertainty has been utilised to undermine the permits that we have in the past \u2014 and that\u2019s equally as damaging.\u201d<\/p>\n<p>Hirstius took over as Shell USA president in August and has retained her previous role of executive vice-president of the Gulf of America, a region that produces about 15 per cent of US oil. US President Donald Trump issued an executive order in January renaming the Gulf of Mexico the Gulf of America, prompting most oil companies to follow suit. <\/p>\n<p>In that position, Hirstius was forced to adapt to former president Joe Biden\u2019s stringent restrictions on offshore lease sales, which posed a threat to the oil and gas industry.<\/p>\n<p>\u201cPredictability about lease sales, predictability about permitting \u2014 these are really important elements that contribute to the confidence that we have in this basin\u2009.\u2009.\u2009.\u2009I think the Gulf as a whole did suffer from that [Biden lease restrictions],\u201d she said.<\/p>\n<p>Shell is the largest oil producer in the Gulf with 11 offshore facilities and has been present in the region since 1947. It employs more than 11,000 people in the US and invests about $10bn a year \u2014 the largest capital outlay in any country. <\/p>\n<p>Hirstius said the Trump administration\u2019s decision to reinstate annual lease sales was a \u201cbig step forward\u201d that would encourage investment. A reduction in royalty rates on offshore production and a relaxation of some rules on drilling in the Gulf would also encourage production, she said.<\/p>\n<figure class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\" srcset=\"https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3Aeb626907-f980-4778-b3fd-3333c6cad6b0?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1 1x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3Aeb626907-f980-4778-b3fd-3333c6cad6b0?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=2 2x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3Aeb626907-f980-4778-b3fd-3333c6cad6b0?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=3 3x\" width=\"2288\" height=\"1526\"\/><source media=\"(max-width: 490px)\" srcset=\"https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A3189a39a-5a80-4928-b0a4-d3afea9a6155?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=490&amp;dpr=1 1x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A3189a39a-5a80-4928-b0a4-d3afea9a6155?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=490&amp;dpr=2 2x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A3189a39a-5a80-4928-b0a4-d3afea9a6155?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=490&amp;dpr=3 3x\" width=\"1526\" height=\"1526\"\/><img decoding=\"async\" src=\"https:\/\/images.ft.com\/v3\/image\/raw\/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Feb626907-f980-4778-b3fd-3333c6cad6b0.jpg?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1\" alt=\"Colette Hirstius sits in a modern chair near a window, looking at the camera, with buildings visible outside.\" data-image-type=\"image\" width=\"2288\" height=\"1526\" loading=\"lazy\"\/><\/picture><figcaption class=\"n-content-picture__caption o3-editorial-typography-caption\"><span>Hirstius said Donald Trump\u2019s decision to reverse Joe Biden\u2019s restrictions on offshore lease sales would encourage investment<\/span><span> <!-- -->\u00a9 Pascal Perich\/FT<\/span><\/figcaption><\/figure>\n<p>Hirstius said Shell was planning to bid for new leases in a sale in December, the first held under a new annual schedule set by Trump that stretches to 2040. \u00a0<\/p>\n<p>But she said tariffs were another area of concern, as they affect projects that were greenlit by Shell and other companies years ago. <\/p>\n<p>\u201cMuch of the steel that we use, the fabrication, the welding techniques, you can\u2019t fabricate it in the US. It\u2019s not an option,\u201d said Hirstius, adding that Shell is exploring whether it can obtain relief from the administration. <\/p>\n<p>\u201cIt\u2019s about the predictability. What I will say is that I have found the current administration and many of the secretaries very willing to listen\u2009.\u2009.\u2009. We haven\u2019t gotten any relief yet.\u201d<\/p>\n<p>Shell has weakened some of its climate and energy transition targets under chief executive Wael Sawan, who took the helm in January 2023 following a surge in oil prices following Russia\u2019s full-scale invasion of Ukraine. Last year the company dropped its 2035 target of a 45 per cent reduction in net carbon intensity, citing the \u201cuncertainty in the pace of change in the energy transition\u201d.<\/p>\n<p>Asked if Shell had misjudged the timing of the energy transition, Hirstius said the company wanted to fully participate in the shift to low-carbon energy but it had to make sure the things it invested in were \u201ceconomically viable\u201d.<\/p>\n<p>In January Shell exited the Atlantic Shores wind project off the coast of New Jersey, taking an almost $1bn write-off just days after Trump posted on Truth Social that \u201chopefully the project is dead and gone\u201d. But the company continues to selectively develop renewable generation projects in the US and elsewhere when it can generate financial returns.<\/p>\n<p>Hirstius said Shell\u2019s stable output policy did not restrict it from exploiting hydrocarbon resources in the US, which is the world\u2019s biggest oil and gas producer. \u201cIt takes multibillion-dollar investments every year to stay flat,\u201d she said, noting that annual production rates in Gulf oilfield decline by as much as 15-20 per cent every year. \u00a0\u00a0\u00a0<\/p>\n<p>Shell sold its onshore shale oil assets in the Permian basin, the US\u2019s largest oil basin, in 2021 for $9.5bn shortly before oil prices surged. Hirstius said any decision to move back into US shale would have to reflect an \u201cincredible value proposition\u201d.<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title o3-type-body-highlight\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser\" data-id=\"765c0ca9-c2ca-42a8-b5bf-e95b47e4e54f\">\n<div class=\"o-teaser__image-container js-teaser-image-container\">\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2290\/1289\"><img decoding=\"async\" class=\"o-teaser__image\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fimages.ft.com%2Fv3%2Fimage%2Fraw%2Fhttps%253A%252F%252Fd1e00ek4ebabms.cloudfront.net%252Fproduction%252F62926be5-d9b2-49d5-bdac-7ec4cb8a6821.jpg%3Fsource%3Dnext-article%26fit%3Dscale-down%26quality%3Dhighest%26width%3D700%26dpr%3D1?source=next&amp;fit=scale-down&amp;dpr=2&amp;width=240\" alt=\"Emissions rise from the Royal Dutch Shell Norco refinery in Norco, Louisiana, US\"\/><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<p>Hirstius, who is one of the most senior women in the US oil industry, said Shell had no plans to back away from its commitment to diversity, equity and inclusion despite an effort by the Trump administration to dismantle initiatives in the public sector. <\/p>\n<p>\u201cWhen we talk about the culture within Shell and the performance culture. I think one of the aspects that is in every fibre \u2014 and it\u2019s not just in the US, its globally \u2014 is the idea of diversity, inclusion in order to unlock business opportunity,\u201d she said. <\/p>\n<p>\u201cIt\u2019s hard to step away from that. We wouldn\u2019t want to.\u201d <\/p>\n<\/div>\n<p>#Shell #Trumps #attacks #wind #projects #harm #investment<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington, business and the world Shell\u2019s top executive in the US has said the Trump administration\u2019s decision to halt fully permitted offshore wind energy projects is \u201cvery damaging\u201d to investment and called for more predictable regulation. Colette Hirstius, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[509,1106,278,1105,1103,192,1104],"class_list":{"0":"post-2237","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-attacks","9":"tag-harm","10":"tag-investment","11":"tag-projects","12":"tag-shell","13":"tag-trumps","14":"tag-wind"},"_links":{"self":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/2237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2237"}],"version-history":[{"count":0,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/2237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/media\/2238"}],"wp:attachment":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}